Fifth Application for Bitcoin ETF in US: Skybridge Capital Wants Additional Funding

Fifth Application for Bitcoin ETF in US: Skybridge Capital Wants Additional Funding

The war over America’s first bitcoin exchange-traded fund (ETF) continues. The two companies, First Consultants and Skybridge Capital, want to jointly guide their project through regulators.

The Securities and Exchange Commission (SEC) welcomes the fifth filing shortly.

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Bitcoin P.P.W.

An ETF is an index trader who wants to monitor the price of financial bitcoin as closely as possible. NYDIG, Valkyrie and WisdomTree VanEck are also competing in the US investor market.

These types of financial products are of particular interest to traditional investors. Hedge funds, insurers and other institutional investors are well aware of this product, so let’s go inside easily. This gives them the opportunity to participate in BTC’s pricing activity without buying real bitcoins.

Skybridge already has its own bitcoin fund. Until recently, the company showed little interest in BTC. However, recent price increases and developments in the world have confirmed that the company has seen profits in this new form of money. In November and December 2020, the company raised hundreds of millions of dollars worth of PTC. Earlier this year, he launched the Skybridge Bitcoin Fund.

So an ETF seems like a logical move. The Prospectus Can be found here.

Successful examples

Companies in the United States have been working on Bitcoin ETFs for many years. However, the SEC does not yet like it, and the regulator has not yet given any approval. Do less difficulties in other countries.

Canada now has three operating ETFs, with the aim that investments reach the $ 1 billion milestone under management with their new fund in one month. The demand for bitcoin is growing on all sides.

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This seems to have been the case even before the United States changed. Like some politicians, the country’s leading companies and banks are active in the industry. But it is not yet clear when. Until then, Bitcoin will continue to run with or without derivative financial products.

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About the Author: Halbert Geis

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